HSMV
First Trust Horizon Managed Volatility Small/Mid ETF
HSMV is an active fund of small- and midcap US stocks selected based on volatility forecast.
US
EQUITY
Active
MANAGEMENT STYLE
21.7 M
ASSETS UNDER MGMT
80 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 06, 2020 |
| Assets (mns) | $22 |
| Expense ratio | 80 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| APTARGROUP INC | 2.1 % |
| DT MIDSTREAM, INC. | 2.1 % |
| SEI INVESTMENTS COMPANY | 2.0 % |
| OLD REPUBLIC INTL CORP | 1.7 % |
| INGREDION INC | 1.7 % |
| POST HOLDINGS INC | 1.7 % |
| IDACORP INC | 1.6 % |
| OGE ENERGY CORP | 1.6 % |
| CARETRUST REIT INC | 1.5 % |
| RLI CORP | 1.4 % |
Constituent Breakdown
| Number of holdings | 152 |
| Herfindahl-Hirschman Index | 90 |
| Wgt avg mkt cap (mns) | $7,916 |
| Large cap (>$10bn) | 27.8% |
| Mid cap ($2-10bn) | 71.0% |
| Small cap (<$2bn) | 1.2% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.2 % |
 |
BERMUDA | 2.4 % |
 |
BRITAIN | 0.7 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 21.2% | 29.2% | 10.6% | 7.2% | -- | -- | 13.3% | Volatility | 12.5% | 13.0% | 14.4% | 16.2% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 76% |
| MSCI EAFE | 0.82 | 70% |
| MSCI Emg Mkts | 0.54 | 30% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.15% |
| ADV of underlying (mns) | $6,382 |
Technical Indicators
| Recent close | $36.09 |
| 30d moving avg. | $38.04 |
| Annualized volatility | 17.0% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 3.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. HSMV |
Expenses vs. HSMV |
ALTAR Score™ vs. HSMV |
|---|---|---|---|---|
| XMLV | Invesco S&P MidCap Low Volatility ETF | 55.0% | -55 bp | +0.8% |
| SMMV | iShares MSCI USA Small-Cap Min Vol Factor ETF | 37.1% | -60 bp | -2.1% |
| QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 30.9% | -65 bp | +0.8% |
| MDY | SPDR S&P Midcap 400 ETF Trust | 29.9% | -56 bp | +0.2% |
| IJH | iShares Core S&P Mid-Cap ETF | 29.8% | -75 bp | +0.4% |
| IJJ | iShares S&P Mid-Cap 400 Value ETF | 29.6% | -62 bp | +1.0% |
| XJH | iShares ESG Screened S&P Mid-Cap ETF | 29.4% | -68 bp | +0.5% |
| IVOO | Vanguard S&P Mid-Cap 400 ETF | 29.1% | -70 bp | +0.3% |
| SPMD | SPDR Portfolio S&P 400 Mid Cap ETF | 29.1% | -77 bp | +0.4% |
| MDYV | SPDR S&P 400 Mid Cap Value ETF | 29.0% | -65 bp | +1.1% |
Risk and Returns: HSMV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/24/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
HSMV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
HSMV
6.2%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 976 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. HSMV's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places HSMV in the 60th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HSMVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| HSMV (80 bp) Percentile rank | 66 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HSMV | 80.0 | 15.4 | 95.4 |
| Peer Avg. | 44.4 | 19.4 | 63.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .